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Off caution list,Maruti Suzuki shares up

Maruti Suzuki shares jumped as RBI removed it from the caution list for FII investment,dealers said.

Written by Agencies | Mumbai | Published: October 4, 2011 1:03:44 pm

Maruti Suzuki shares jumped over 2 percent as the Reserve Bank of India (RBI) removed the company from the caution list for FII investment,dealers said.

In a press release,the central bank said the aggregate shareholding in Maruti Suzuki by foreign institutional investors (FIIs) under the Portfolio Investment Scheme has gone below the prescribed trigger limit and restrictions placed earlier on purchase of its shares were withdrawn.

Earlier any buying of shares in normal series would have required special permission from the RBI.

At 10 a.m.,Maruti shares were trading at 1,102.9 rupees,up 2.2 percent.

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